The global Menthol Cigarette Market size is projected to touch USD 99.1 billion by 2025, according to a new report by Million Insights. The market is estimated to grow at a CAGR of 3.1% over the forecast period, 2019 to 2025. Menthol ability to provide fresh, anesthetic and cooling effect to smokers is attributing to this growth. Moreover, menthol reduces the smoke harness, thereby attracting young, beginner and women smokers.
Growing tolerance to non-menthol flavor cigarette has led to a rise in the number of menthol smokers. Further, smokers seeking flavor based cigarette are increasingly preferring menthol flavor. In addition, occasional smokers are opting for menthol flavor owing to its mild effect. This factor, in turn, is expected to supplement the market growth.
Consumers trying to quit cigarettes are inclined towards menthol flavor as it is considered to be less harmful to the throat than non-menthol ones. On the other hand, consumers who consume menthol flavor regularly are reluctant to try non-menthol flavors. Owing to this, there has been declined in non-menthol smokers while menthol smokers are constant in numbers in recent past. Further, regular consumption of menthol flavor results in a rise in addictive substance in the human body, thus making it difficult to quit. All these factors are positively attributing to market growth. However, FDA suggestion to ban the menthol cigarette is expected to adversely affect the market growth.
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Based on the capsule, a single capsule segment occupied the largest market share in 2018 with 88.8%. This capsule allows smokers to alter the strength of the menthol by pressing the liquid ball inside. On the other hand, the double flavor is also expected to grow at a significant rate as it provides an option to taste either menthol or non-menthol flavors.
Among end-users, a male segment dominated the market in 2018 with 57.3% of the market share. The growing number of the younger population consuming flavor based cigarette is driving this segment growth. The female segment, on the other side, is likely to exhibit a CAGR of 2.9% during the forecast period. The growing number of working women consuming cigarette is attributing to the growth of this segment.
Asia Pacific held the largest share in 2018 with 64.2% and the region is projected to grow fastest during the forecast period, 2019 to 2025. Growing demand for menthol flavor in China is attributing to the growth of the region. In addition, the rise in the number of women smokers is further expected to provide a lucrative opportunity for manufacturers.
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Further key findings from the report suggest:
• Among capsule type, single capsule segment held 88.8% of the menthol cigarettes market share, in 2018.
• By end user segment, male occupied 57.3% of the market share, in 2018.
• Asia Pacific was the largest region in terms of market share in 2018, and the region is expected to continue its dominance over the forecast period.
• Key players operating in the market are Korea Tobacco & Ginseng Corporation, Philip Morris International Inc., Alfred Dunhill, Commonwealth Brands, R.J. Reynolds Tobacco Company, Lorillard Tobacco and Imperial Brands plc among others.
Million Insights has segmented the global menthol cigarette market on the basis of capsule, end user, and region:
Menthol Cigarette Capsule Outlook (Revenue, USD Million, 2015 – 2025)
• Single Capsule
• Double Capsule
Menthol Cigarette End User Outlook (Revenue, USD Million, 2015 – 2025)
Menthol Cigarette Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• South Africa
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